Anchorage Digital cuts about 17% of staff amid sector-wide cost pressure
- —The layoffs affect roughly one in six Anchorage Digital employees
- —The company blames cost pressures across the crypto sector
- —In March 2023 Anchorage cut about 75 staff, or 20% of its workforce
- —Anchorage is the only federally chartered crypto trust bank in the US, valued at $4.2 billion after Tether's investment
Why it matters: Job cuts at a major regulated custodian signal mounting cost pressure on crypto's institutional segment.
Source: Crypto Briefing